HANGZHOU, 7 November 2018 – At the fifth World Internet Conference in Wuzhen, blockchain technology from Ant Financial was awarded the World Leading Internet Scientific and Technological Achievements Prize, which included 15 technological breakthroughs chosen by a selection committee comprised of 44 renowned global experts and industry leaders. This is Ant Financial’s second time receiving the award, after its distributed relationship database product OceanBase was recognized in 2015.
During the past year, Ant Financial has accelerated the deployment of its blockchain technology in an increasing number of scenarios including product traceability, philanthropy, electronic medical prescription services and cross-border remittance.
For example, during this year’s Single's Day shopping season, Tmall partnered with the Antwerp World Diamond Center in Belgium, allocating a unique QR code based on Ant’s blockchain to each diamond listed in the official Belgium Diamond flagship store on Tmall's platform. By scanning these QR codes with Alipay, Tmall or Taobao apps, shoppers can find detailed information about each diamond, from their place of origin to where they were delivered.
This Single's Day on November 11, the blockchain technology will facilitate the traceability of 150 million imported products on Tmall’s platform. In addition to diamonds from Belgium, other products including infant formula, beauty and healthcare products, liquor, and foods such as rice and honey all benefit from the technology’s traceability services.
Through Ant's blockchain, the intelligent system integrates product traceability data to a consortium chain, which ensures the transparency and integrity of the information and builds trust among shoppers who are purchasing expensive imported products.
During his keynote at the World Internet Conference in Wuzhen, Eric Jing, chairman and CEO of Ant Financial, noted: “Ant Financial is committed to leveraging blockchain to build mutual trust and push the blockchain ecosystem toward greater success. The application of our blockchain technology demonstrates our strides in this area and our commitment toward ensuring blockchain technology’s true value can be fully unlocked.”
According to IPRdaily, a leading global intellectual property media outlet, as of August 2018, Ant Financial, together with Alibaba Group, topped the Global Blockchain Enterprise Patent Rankings with 90 related public patent applications, of which 50% were related to underlying technologies such as access control, public key decryption, block construction and data processing.
In the report "Accelerated Digital Innovation With Blockchain-as-a-Service Platform", market researcher Forrester noted that, based on the blockchain deployment experience of Ant Financial and other companies, blockchain technology eliminates unnecessary intermediaries while the nature of the solutions increase ecosystem transparency and reduce communication costs, with great potential for improving the efficiency of product traceability and other services in smart cities.
About Ant Financial
Ant Financial Services Group is dedicated to using technology to bring the world equal opportunities. Our technologies, including blockchain, artificial intelligence, security, Internet of Things and computing, empower us and our ecosystem partners to serve the unbanked and underbanked, bringing more secure, transparent, cost-effective and inclusive financial services to individuals and SMEs worldwide.
Ant Financial has formed international partnerships with global strategic partners to serve local users in those markets, and we serve Chinese travelers overseas by connecting Alipay with online and offline merchants in popular destinations. By the end of March 2018, together with its global JV partners, Ant Financial served 870 million users worldwide. Brands under Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit, MYbank and Ant Financial Cloud.
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